Question 3
The relationship between Demand “D” and Selling Price “P” is given by the equation D(p) = 720 – 5*P. If the intention is to maximize the profit, then what is the optimal selling price if the item is going to be made at Rs. 20 per unit?
Question 3: The relationship between Demand “D” and Selling Price “P”…
Show answer
Correct answer: 82
Question 3 of 20 in the IIT Madras BS Business Analytics (Business Analytics) Quiz 2 paper sat on 1 Dec 2024, in the September 2024 term (IIT M DIPLOMA AN EXAM QDD2 01 Dec 2024). It carries 1 mark.
More questions from this paper
- Latent demand in a demand-response curve is the area obtained when?
- What is the objective function of logistic regression?
- Say a demand response curve is modelled as a constant elasticity curve. If Q1 is 2400 units, Q2 is 1500 units, P1 is Rs…
- What does the term “Multicollinearity” refer to? (Select all that are applicable)
- What are the applications of logistic regression?
- How many degrees of freedom are present for the “Residuals” in the ANOVA Table?
- How many total degrees of freedom are present for the fitted model in the ANOVA Table?
- If no feature engineering was performed, then how many features were present in the dataset?
- What is the accuracy of the model?
- What is the precision of the model for predicting the negative class?
- What is the recall of the model for predicting the positive class?
- What is the new adjusted R-square value?(Note: If your answer is in decimal, enter it rounded to two decimal places. Fo…
- What does the value of the new adjusted R-square value imply?
- If the axis “X1” and “X2” represent the inputs for the DEA problem, then which of the following would you assume/guess …
- If the axis “X1” and “X2": represent the outputs for the DEA problem, then which of the following would you assume/gues…
- The following is the Primal LP Formulation for a resource allocation problem. Given this, answer the subquestions based…
- The following is the Primal LP Formulation for a resource allocation problem. Given this, answer the subquestions based…
- The following is the Primal LP Formulation for a resource allocation problem. Given this, answer the subquestions based…
- The following is the Primal LP Formulation for a resource allocation problem. Given this, answer the subquestions based…